HomeMy WebLinkAbout904864MORTGAGE DEED WITH RELEASE OF HOMESTEAD
KHF Builders, Inc.
Mortgagor(s), of Lincoln County, State of Wyoming
of Nine thousand nine hundred dollars Dollars ($_9~900.00
2014 , with interest from September 15~ 2004 at the rate of 10
monthly, evidenced by Promissory Note of even date herewith, in momhl¥ installments of
, to secure payment
), due __September 15,
per cent per annum payable
One hundred thirty dollars
and 83/100 Dollars ($ 130.83 ) each, including interest commencing on the 15th day of
October ,2004, and continuing on the same day of each month thereafter, do es hereby mortgage and
warrant to LEISURE VALLEY, INC., a Nevada Corporation, Mortgagee, of Lincoln County, Wyoming, the following
described real property in the County of Lincoln, State of Wyoming:
Lot 112 of STAR VALLEY RANCH PLAT TWENTY-ONE
as platted and recorded in the Official Records of Lincoln County, Wyoming.
Mortgagor(s)-~gree to pay the indebtedness according to the terms and conditions of that certain Promissory Note hereinabove
described, executed by Mortgagor(s) to Leisure Valley, Inc., and during the life of this mortgage to pay all taxes and assessments against
the premises. If Mortgagor(s) fail to pay such taxes or assessments, Mortgagee may pay the same, and all sums paid by Mortgagee
for such purpose shall be added to and considered as a part of the indebtedness and shall draw interest at the same rate.
If default occurs in the payment of the indebtedness or in the payment of a ny installment thereof, or if default occurs in any of the
covenants and agreements hereof or under the aforesaid Promissory Note, then the whole indebtedness shall, at Mortgagee's option,
become due and payable forthwith, and Mortgagee may foreclose this mortgage either by advertisement and sale of the premises as
provided by the statutes of the State of Wyoming, or by an action in equity, l his will be Mortgagee's sole remedy against Mortgagor(s)
in case of default by Mortgagor(s). Out of the proceeds of any foreclosure thc Nlo~ t gagee shall retain or receive all sums due to it hereunder
and costs of foreclosure and sale, including attorney fees in an amount equal to 'Tcq Percent (10%) of the indebtedness remaining unpaid
at the time of such sale, and the same shall be taxed as costs in any equitabk~ action brought to foreclose this mortgage.
To fully assure Mortgagee the benefits of the security interest in the prem~sc.~ granted to it hereunder, Mortgagor(s) hereby assign
to Mortgagee all rents hereafter payable for the use and occupancy of the premises by any person in possession thereof with Mortgagor's
consent. If default occurs in any of the the covenants and agreements herein comained or under the aforesaid Promissory Note, whether
or not Mortgagee elects to foreclose this mortgage on account thereof, Mortgagor(s) hereby authorize Mortgagee to collect the rents
from the premises and to apply the same to the payments on the indebtednes~ secured hereby until such default is remedied.
In the event of foreclosure of this mortgage upon default, Mortgagee shall bc tmtitled to the possession and enjoyment of the premises
and rents and profits thereof from the time of such default and during the pe,~dency of foreclosure proceedings and period of redemption,
if any. If Mortgagor(s) shall fail to surrender such possession to Mortgagee prmnptly upon its request therefor, Mortgagee may compel
delivery thereof by ejectment action or other civil proceedings appropriate for d~at purpose. Furthermore, in addition to the remedies
otherwise provided for in this mortgage and by law and as a matter of right without regard to the solvency or insolvency of Mortgagor(s),
the value of the premises or the insufficiency thereof to discharge the indebtedness and costs of foreclosure and sale, Mortgagee shall be
entitled to receive from the premises the rents, issues and profits thereof from thc time of default to the expiration of any redemptive period
provided by law. A receiver may be appointed by any court of competent jurisdiction upon ex parte application without notice, notice
being hereby waived and appointment of a receiver upon such application be itag hereby consented to by the Mortgagor(s).
MORTGAGORS(S) HEREBY RELINQUISH AND WAIVE all rights under and by virtue of the homestead
exemption laws of the State of Wyoming.
Dated this d~ ~
,2004.
MORTGAGORS:
STATE OF WYOMING )
) ss.
COUNTY OF LINCOLN )
~ /~L~!r'~ f_Onl~f^this~'~ ~ day 'of ~i( (,i ~,' [ 2004, before
me
, - ...... ~ ~ and "
person(s) described in and who executed the foregoing ms~ument, and acknowledged that
free act and deed, ~clud~g the release and waiver of the r~gnt of homestead.
personally appeared
known to me to be the
executed the same as
I Lincoln ~ Wyom''
My commission expires
RECEIVED 11/29/2004 al 4:52 PM
RECEIVING # 904864
BOOK: 573 PAGE: 596
JEANNE WAGNER
_LINCOLN COUNTY CLERK, KEMMERER, WY